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sure to stay tuned for "options action" straight ahead in a few minutes. >>> let's take a quick look at the day that was on wall street with the nasdaq being the under performer down by 11 points. the dow a gain of 81 points and the s&p 50 0 gaining by just 4. >> nice to have you along. thanks for being with us today and thank you for joining us. that does it for "closing bell." "options action" starts right now. >>> this is "options action." tonight apple's pain your gain. shares of apple continue to fall but deign nathan has a trade that can triple your money in one month and help you get your money back. >>> plus talk about a blockbuster netflix trade. teaming up for a trade that can make money if netflix shares go up, down or nowhere at all. they will show you how you can make money, too. >>> and which of these stocks do options traders see paying a biggest dividend? the action begins now. >>> live from the nasdaq market site in the heart of new york's times square. i'm melissa lee. the dow closing at the high of the day and finishing up for the third straight week. the only
. happiness happy hanukkah, everybody. now you stay safe. >>> this is "options action." tonight, core, apple shares continue their swoon. dan nathan sees an opportunity in qualcomm and makes four times your money in just one month. he'll show you how. >>> plus call it a shanghai surprise. the chinese stock market has its best one-day rally in three years. so are coal stocks not far behind? co-and carter think so. they're explain. >>> why are all those traders going yahoo for yahoo! calls. kol scott nations reveals. the action starts now. >>> back in the heart of new york city's time square. stocks closing at the lows of the day. the culprit is a familiar name, apple. the stock has now lost 27% of its value in just three months. it hit a ten-month low today, closing near the lows of the session. what is the next stop for america's favorite stock? let's get in the money. dan, this has to be more than tax selling at this point? >> we've been talking about it for weeks, almost month. really since september 21st when they introduced the iphone 5. at some point it had to do with people booking pro
action." tonight apple's pain your gain. shares of apple continue to fall but dan nathan has a trade that can triple your money in one month and help you get your money back. >>> plus talk about a blockbuster netflix trade. teaming up for a trade that can make money if netflix shares go up, down or nowhere at all. they will show you how you can make money, too. >>> and which of these stocks do options traders see paying a biggest dividend? the action begins now. >>> live from the nasdaq market site in the heart of new york's times square. i'm melissa lee. the dow closing at the high of the day and finishing up for the third straight week. the only stock america is watching tonight is apple. the national nightmare continues. apple is lower in nine of the last 11 sessions. it is below the death cross. people are panicking. the question now is, is this a broken stock or the buying opportunity of a lifetime? let's get into money and find out. it is important to understand why you think the stock is down before you can say whether or not it is a buying opportunity. >> there were so many r
-bye. >>> this is "options action." tonight priceless visa trade. a trade that can make you money in visa if the stock goes up, down or nowhere at all. plus just short nike. dan will break it down. and which of these stocks do options traders see paying a special dividend. scott nations goes digging for more dividends. the action begins right now. >>> live from the nasdaq market site in new york city's times square i'm melissa lee. these are the traders here and in beautiful los angeles. stocks eking out gains as traders wait on washington. a flashing red warning sign emerging for the consumer. shares of yum brands taking a hit on the warning on the outlook for china. what does this mean for the other multinationals. this is much more than a single stock story because yum is looked at as a barometer for china growth. >> this year as mcdonald's was signaling that china was weakening we are seeing sales trends weaken. yum was doing fantastically in both regions. yum gets it disproportionate from the sales. and a lot of investors were wondering how these guys were bucking the trend for so long. to me this is
of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take including suspending state and local government securities and investments in the federal employee pension funds. those don't sound like good practices going forward. president obama meanwhile arrives back in washington after cutting short his christmas vacation in hawaii. congress is back in town, but little progress was made over the holiday to avoid the fiscal cliff and no talks have been set. the se
, when the victims are innocent children, it's time to move from conversation it action. tyler? >> hampton pearson, thank you. >>> to the markets now. apple dipping below $500 a share for the first time since february. in premarket trading, this after citi downgraded stock. the company did sell better than expected 2 million iphone 5s in china over the weekend. the best smart phone launch ever in that country. what will the future bring with apple? i'm here with spencer from wall street journal. spencer, people have been unloading apple over the past few months. is that selling pressure overdone? >> well, it looks like since apple released this announcement saying they have sold over more than 200 million iphones in china, and it takes it down a new low for apple, it has rebounded. apple is entering a new relationship for its investors. the last few years it's been this amazing lovely marriage. both sides completely in love with each other. the last few quarters they are questioning tlir relationship. they are fearing, can the growth continue? can the innovation continue? this
it over to "opposites action" as we preview what the president's about to say. have a great weekend, everybody. i'll see you monday. >>> breaking news this hour. you're looking at a live shot of the briefing room at the white house where we're awaiting comments on the fiscal cliff from president obama. we'll bring you those comments as soon as they begin. the story on wall street today was washington. the back and forth on the fiscal cliff negotiations sending the markets sharply lower. and so, what do we make of it here, dan? friday afternoon, we're awaiting the president to be joined by senate majority leader harry reid to make a statement on these talks into the weekend. >> in some ways i would say the reaction today, the ultimate reaction ended up being a tad muted in a lot of ways when you think about it. because the overnight lows were down 3%. in the s&p. so we closed down about 1% here and so here's a situation where i think the options market kind of has this a little bit. the six futures curve started ticking up earlier in the week in kind of a precursor to some of the equ
action to get this economy hiring and moving again! even if his statements about economic weakness ultimately cause the averages to stumble from some pretty lofty levels. dow ultimately declining ability 3 points, s & p inching up 4.4%. closing in positive territory. nasdaq giving up .28%. when you look at what ben when you look at what ben bernanke did today you've got to marvel. the republicans themselves refuse to get specific on spending until they see something from the white house. the elected portion of our government is not helping this economy at all. their failure to rise above politics to reach a compromise is now really starting to hurt the u.s. economy. in this vacuum, the fed has decided to keep rates low. they stepped in saying listen, business, we are not going to get in your way. we're not going to allow interest rates to go higher until we get many hundreds of thousands of people hired! [ applause ] ben bernanke has become the jobs commander in chief. while i've heard nothing but carping on air in the blogosphere as you the fed's latest actions today. i say give m
reconvenes. options action is starting right now. >> you're looking at a live shot of the white house where leaders just emerged from a bheeth with president obama. washington agains to be the only story on wall street. lows of the day now on a five-day losing streak. futures indicate more pain. eamon javers has the latest. >> we saw them trooping in and out. now we're starting to get some indications of what happened in the meeting. i'm told by nancy pelosi's office that she's saying senators reed and mcconnell will try to come up with something. they also said that speaker boehner said in the meeting that he won't move anything until the senate moves first. and nancy pelosi called the meeting constructive and candid. that's the first indication we have on the record from one of the leaders about what happened in that meeting. all eyes are on the 6:30 p.m. house reconveninreconvening. what if anything will they be able to vote on? we don't know the answer as of now. we do know the president did not make any new offers in the meeting today. >> it is staggering for the president to call the
as possible, moving down that path is the right course of action for us. >> what boehner is proposing is extending bush tax cuts for everybody that makes less than $1 million a year. they say that will take the threat of tax increases off the table for most americans. but the white house and democrats up here on capitol hill have already rejected that option, guys. we're sort of at a little stalemate for this hour, maybe the next. >> there is some talking going on evidently. let's take you deeper inside the new proposals on the table, show you the differences. our senior economics reporter steve liesman has the fiscal clifferences. >> we're only going to do revenue. we're not going to do spending. come back tomorrow and hopefully get more spending. let's just do revenue. it's enough. >> clifferences. >> the first thing here, let's look at tax increases. what we understand with the new proposal of obama to raise tacks on those making $400,000 and higher, that would raise $600 billion in revenue. we believe the revenue side from the gop is $460 billion. just a warning on the gop. not ge
. bertha coombs tracking the action at the market. >> very quiet. very low volumes. gold edging lower as the dollar has edged higher. they say incentives to buy are postponed with so much uncertainty over the fiscal cliff and what's going to happen over the next couple of days. gold is on track for its fifth straight weekly decline, but for the year it's the 12th year of gains. so this is the first year since 2004 that we've seen gold under perform stocks. one of the big winners came under a lot of selling pressure as a lot of people try to get ahead of the fiscal cliff. silver on track its fifth weekly straight decline. copper back-to-back gains this week. a little bit of hope that we'll see more demand for copper this year as china's new government may do some more urbanization. if you take a look at the metals, those with industrial properties, particularly the precious metals, platinum a big winner, palladium a big winner, those used in catalytic converters. >>> thank you, bertha. >>> the iranian navy holding massive drills in the strait of hormuz. this comes from iranian state te
actions are due around 12:40 cst. hsbc was hit with a $1.9 billion fine. the ceo said we accept responsibility for our mistakes and are profoundly sorry for them. >> a full year loft loss of 4.7 billion euros, thinksen krup has more details. >> they are starting to look at the positive of what i would call a -- strategy, i.e., a clean sweep when it comes to the business strategy of thyssenkrupp as well as the instruct occur and the refocusing on being transparent and definitely being something shareholders should trust. so no dividends, jobs may go and the sale of celiamerica being looked at. the cfo says there's a handful of interested parties in that particular party of the business. all in all, i think if you look at the message and the resale note issued by j.p. morgan earlier on this morning, on the back of the numbers, it's a very positive story because all the rubbish that needs to be cleaned out is being cleaned out. when it comes to the actual strategy, it will be reduced process on sale after the sale of about 30% will come from that sector. the rest is being refocused
. john harwood has the details. what's going on? >> not a whole lot of actions going on. although there have been some developments. let me bring our viewers up to date on those. first of all, treasury secretary geithner this afternoon announced the united states would hit the statutory debt limit on monday. that's new year's eve. that's part of an effort to pressure congress to act to raise the debt limit which may or may not be direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of d
, and that is teetering on the fiscal cliff. let's go to d.c., where all the action has been in the past 48 hours. john harwood has the latest. john? >> >> melissa, the first headline is, we are going over the cliff tonight, because we're not going to have action in both houses of congress on a deal. we don't have a deal yet. the house isn't going to vote. we don't know if the senate is going to hold any votes. the senate is still waiting for the outcome of the biden-mcconnell talks that are hung up over a couple of things including the issue of the across the board spending cuts which democrats want staved off for a year or so. republicans want to begin that cutting process right now. but let's talk for a moment about what we know about what has been agreed to, have to caution that until everything's agreed to, nothing is set in stone. bull here's what we know. the -- it appears that the top rate on taxes is going to go up to the clinton era level, 39.6% for individuals making more than $400,0 $400,000, for families making, married couples making more than $450,000. the estate tax, which some democrat
themselves in the charts, as crucial turning points in the pricing action for all kinds of securities. look at a previous swing in the stock or index and apply the ratios, and the result is an important level for the security. brodin likes to look for clusters of fibonaci relations, and we have a group of three, 1346 to 144 6, which is why this is so important. a retracement of a previous swing, 100% price projection of another swing, and if it would be semet ral to a previous move, and brodin's way of thinking, these three levels clustered together create a strong ceiling of resistance, and the s p & p has to jump the hurdle. now, we failed to jump the hurdle yesterday. and yesterday was significant, and negative. so brodin expected to see the kind of pullback we got today before we tried to test the resistance level again. fortunately, s & p has support created by another cluster, and this floor is at 1414. okay. just a couple points below where the s & pent went out today. as long as we say above, the path of least resistance is higher and today, even if the ugliness, the floor held. wha
second big short idea of my career. >> this is p somewhat dependent on the ftc taking action. if they don't, what happens. >> i think the fdc will take hart look. i think the scc will take a very hard look. i think the new distributor will be better informed and this is where the media comes in. this is where, i don't know how many distributors watch cnbc, i'm sure some do, but we have 50 plus members of the media here, much broader collection of the media like cnn, et cetera, that will reach to the community. think about a pyramid scheme -- >> what would you say to those who would say you are trying to advertise yourself on one side of this. you are trying to manipulate the success of the company and therefore the stock price. >> we simply want the truth to come out. if distributors knew the probability of making $95,000 a year, which is the millionaire team as they call it, level, was a fraction of 1%, no one would ever sign up for this. and we simply expose that fact. the company has done their best to keep that from the public. the media exposes facts about things like pyramid schemes
while there may be behind the scenes action in terms of talks, no one from the house is home. big moves by citigroup's new chairman and ceo. he announced 11,000 layoffs this week. citi will take a pre-tax charge of more than a billion dollars. the markets liked the move. the stock rallied about 7% on the expense cuts. >>> a big deal for netflix and dismy, they announced a licensing agreement to show disney movies shortly after they leave the theaters. the fiscal cliff and jobs numbers and state of the economy. who better to talk about all of that than robert reich, former secretary of labor in the clinton administration and current economics professor at the university of california at berkeley. good to see you. thanks so much for joining us. >> how are you? >> let's talk about these numbers on friday, the surprisingly strong jobs numbers. 146,000 new jobs created. the unemployment rate dropping to 7.7%. we were expecting some impact from the super storm sandy in earlier thanksgiving. what do the numbers say about the economy? >> apparently we are still struggling. these are not hugely
. the turtles are really hot, all the action figures we had are selling out like crazy. this is legos, teenage mutant ninja turtles. >> you said legos is now the hottest toy company by far. >> by far the most rapidly growing company. people love legos. there is a learning component to it. everyone thinks it helps develop the brain a little bit. >> do you think it's good for boys and girls? >> what's so interesting, i brought lego friends here. and lego frankly has struggled with girls throughout its entire existence, until now. until this year. lego friends is doing fantastic with girls. it has little dolls that you construct as well as this is the lego friends summer riding camp. girls just love horses, and this has been a run-away hit, lego friends for girls. >> so you have mutant teenage ninja turtles and then you have the friends. >> lego friends. >> and lego galaxy squad bug obliterator. >> this is another new thing. a new theme, space theme for lego this year. and, again, it is something that we've got first to market, just brought into the stores over the last week or two. really next y
the tough actions for sustainable growth, i think, and he's had some positive indication of that today. i do think citigroup will finally be able to have a material dividend increase and you'll see that again by april. this is good news for citigroup. that's the name you want to own here. >> can you imagine you saying those words a few years ago? >> it's been a long time, but new ceo, new chairman, a new philosophy, i think, and we'll still be playing close attention. >> thanks so much for coming on. >> mike mayo, what do you do? >> i own citi, i disagree with both moynihan has done the right things there. i think the stock goes a lot higher, and it's much easier to understand that citi at this point. 6 on% of book value, that sock should trade about 80% of book. st. is also compelling as we. >>> let's kick it around the desk a bit. if you had to choose today between st. and bank of america, which one? >> bank of america right away. i like what moynihan said about simplifying the mortgages, making that process simpler. that's where we see the most badge for our buck. if you look at the decem
cliff looks like it's going to be resolved. that's what the vix is saying, and the fed's actions are not going to create volatility, even additional futures contracts in the vix are not higher in the last several weeks here. we did have a spike in bond yields yesterday. some good very excited about the idea that perhaps we were going to have some inflation issues, but, you see, inflation portfolios that spiked yesterday, didn't do anything today. the gold issue is down and the pimco tips, didn't do anything today and even funds, etfs, maria, that short treasuries like that tbt, that bottom one there, that had big volume yesterday and today but not a lot of price action. maria, back to you. >> up next, no impact. someone here says the federal reserve's unprecedented action to keep the economy on track won't make a lick of a difference in avoiding the fiscal cliff. the debate on the fed, the cliff and the economy coming up and represent schakowski says raising the eligibility age for medicare is a non-starter. we'll talk about it and dan niles, ahead of the curve? saw facebook's me
're right. what about the fed, harry? were you pleased or unhappy with the fed action this week? what do we have going now, qe4? >> it's absolutely desperate that you have to keep upping the ante, and showing how weak the economy is. we're still in critical care, on life support, and we'd be in big trouble without $1 trillion in stimulus. in europe the stimulus stopped working in 2012. in 2013 the stimulus is just not going to make an impact. these more wealthy people that will be spending will be hit by more taxes and they will slow down and i think that you're going to see the economy be much worse in 2013, but, you know, we may get more stimulus first in china and europe so i think it's going to be see-saw first half of 2013 and then i think the markets will head down seriously in the second half of 2013. >> but, again, to his point, the wealthy includes savers, both corporate and individuals, grandma and grand past the fed is killing them. >> killing them. >> so if we don't reball the equation, i don't think we'll make any progress. >> very, very important insights. gentlemen, appreciat
in the work earlier in the week that the company hired a merchandising ex action from below. >>> up next, find out who the winners and losers are. and then, in case you missed my interview with democratic senator ben carden yesterday, what are you going to give on, senator? to get this done? >> well, we want to balance the pros. >> we know you -- everybody is saying that over and over again. why don't you explain to our audience what that means, sir. >> first, we've agreed to $1 trillion of domestic spending cuts. that's already been done. >> that's done. we're talking about the here and now, not what's done. >> he wouldn't tell us how he plans to get a deal done. coming up, we will hear from the other side of the aisle. hopefully representative mulvaney will rise above. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any comput
message to washington. would that be enough to jolt lawmakers into action? >> and as the year winds to a close, the head of aetna is back with us winding up for higher taxes in 2013 thanks to obama care. wait until you hear how high he thinks they could go. you're watching cnbc, first in business worldwide. is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to and never go to the post office again. >>> well, we're getting numbers in. turns out retailers saw the weakest holiday season since 2008 hurt by bad weather and more uncertainty about the rising tax increases that could come next year. we're wondering if
and for our entire economy. but the hour for immediate action is here. it is now. >> the president correctly says the time for immediate action is now. apparently not his immediate action, though, with the nation facing a crippling fiscal cliff in just three days, the president calls congressional leaders together and says, you fix it. no, he doesn't offer any new plan from the white house, no compromise. instead the president tells the senate to come up with a deal and the same senate that hasn't passed a budget in years. and the marks don't like it at all, 158 points now tanking and falling further in the after market and we'll have to see how asia opens on monday. it could be ugly. the headlines are falling fast and furious. we're all over it "the kudlow report" starts right now. >>> welcome. i'm michelle caruso-cabrera in for larry kudlow. a lot happened in just the last couple of hours. >> michelle, there's considerably more optimism after the white house meeting between the president and the four bipartisan leaders than there was earlier in the day. mitch mcconnell and harry reid say t
at capitol hill. there's a lot of finger pointing but not a whole lot of action. >> all right, eamon. thanks so much. >> you bet. >>> as negotiations continue on washington, that is a bit of an overstatement, check wall street, the fear index is spiking as the markets drop. we're back above 20 for the first time in fact in five months. up 14% in the past week. let's get trading action here at the nysc. mary thompson joins us on the floor. this is a vulnerable point for the markets. traders have been saying they're going to make a lot of noise and it will get made up. >> suddenly it isn't. so we're having a bit of a reality check. the dow, the s&p and the nasdaq all negative. it's the lowest now of the month. the vix is spiking. moving above the 20 level for the first time in five months. we want to point out the last time we had this angst over what was happening in washington was in august of 2011 when we had the debt crisis and the subsequent downgrade. at that point the vix was well above where it is, more than twice where it is. so while the fear index is high, up 31% in the last session
and a third point. my partner here on the floor of nyse joins me in the action. 24 hours ago we were sitting here with a triple-digit gain, actually. now, there is disappointment in washington. >> let's just say the markets are digesting all of this news today, that means moving side ways, a fancy word, folks. we are talking like 30 points. that pretty small. and the president sounding alternative sounding con ciliatory and often combative as you hear from john harwood. here is the bottom line. big movers, bank stocks, home moving stocks, that sue just referenced. all basically flat today. if you take a look at the one sector though that is still continuing to have a great day, doing it day after day and that's airline stocks, very positive traffic metrics from airlines in the last few weeks and these stocks have been moving up virtually everyday. there is your market today. this is a quiet day when you see airlines as the market leader. >> true. good point. we will see what happens when we ceci you see you the next half hour. >> what is the likelihood before the year's end. a democrat from
to be closer to new year's for me to get interested in apple. >> have you looked at the options market action in it? i don't know whether you have. >> i glossed over it and hasn't given me anything substantive yet. >>> i want to draw our viewers' attention to avon products. this is a rare one to leave the s&p 500 but that's what's happening right now. shares up almost near the highs of the day here at 5.2%. analysts aren't exactly sure what's behind the move but still, it's one to mention. remember coty offered to buy avon a couple of times earlier this year. they walked away from that deal twice. in a year we're down more than 15.5% on avon products. >>> automakers revving up sales. mercedes-benz posting its best results ever in america. the ceo of the u.s. division will join us exclusively to talk about how he plans to keep those sales motoring along and whether he is hiring. >>> speaking of hiring, with millions still out of work, why are manufacturers having a tough time filling new positions? phil lebeau searching for answers? wheeling, illinois. >> tyler, the answers will surprise you.
a $2 loss in the gold market. sharon epperson is track being the action down at the nymex. sharon? >> gold prices are finishing the day basically flat here, sue. we're right around $1,693 an ounce. keep in mind, gold prices have lost about $50 in the last week or so and goldman sachs today saying that they are lowering their three, six and 112-month forecasts on gold. they say $1,825 is down from the $1,840 level were expecting. for 2013 they look for the arch price to be $1,810. freeport mcmoran, $9 million deal to diversify into energy, the world's largest copper producer, still a lot of interest in copper. they say their opinion on copper has not changed. retail investors looking to buy copper, buy gold as well. of course freeport is one of the world's largest producers of gold. they're doing it through the exchange traded products. the jjc for copper and gld for gold. copper prices nearly coming in to where gold prices are the last month or so as gold prices and gold holdings are at record levels. back to you. >> thank you very much, sharon. >>> let's get the trading action he
of action, not a lot of activity at all. people just in this wait and see mode, right? more chatter out of washington. i think a lot of people expecting the interview with the president, hear what he had to same the market got weaker after spoke. >> down 18 point on the trading session now the volume disturbing now, because there is none. >> that just tells that you investors are, a, exhausted, and b, not going to make decisions until there's more clarity. until there is clarity, this is what we will be stuck n >> might as well start the feast of the seven fishes. >> the lobster sauce. >> recipe tonight. listen, got celebrate something. >> start somewhere. all right, kenny, thanks very much. ty, back over to you. >> thank you very much, sue. >>> one impact of the upcoming fiscal cleave is the sheer number of companies announcing dividends, all in an effort a-to-avoid tax hikes set to kick in at the end of the year. more than 100 companies announcing almost $23 billion worth of payouts. there you see a scroll of so many of them. those coming in the fourth quarter. good for shareholders b
partner sue herera in the center of the action downtown at the nyse. >> stocks are slightly lower right now despite those fiscal cliff anxieties. they've been pretty steady throughout the day. the s&p 500 broke above its 50-day moving average, believe it or not. earlier in the day it's backed off a little bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about the fiscal cliff negotiations that are going on. but it is the first trading day of the month and some on wall street are getting bullish for year end. it is going to be a december to remember, i predict it. >> i think this is one of the reasons we're holding up so well, because december is the best month of the year and we roll into january which is also a very good month. let me show you some sectors that do especially well in the month of december. there's major sectors here. this is the best performing sectors in the month of december, averaged over the last ten years. you
the various government actions. look at wages in greece and now spain. wages in greece are down more than 25%. very painful, but we've heard about the pain already. what we haven't heard so much about is the competitiveness. >> enor husband costs with incredibly high unemployment rates. >> that i'm afraid is what's going on and that's extremely unpleasant. what i'm saying in terms of market action is we know about that, we're focused already on the unemployment, we're not focused on the wage improvement in competitiveness. >> all right giles, more to come from you you. also we'll hear from the stars of les mis about why the classic story will resonate with the current economic climate. and later in the program, we'll also hear from the nigerian finance minister about the resources boom. but you what about the corruption issue. and we'll also hear first from apple's new ceo tim cook about steve jobs' legacy and his future plans for the tech giant. plus of course we'll continue to keep you updated on the reaction and the latest dealings from the earthquake in japan. >>> a 7.3 magnitude earthqu
that that would work. >> it's a -- it's better than no action, and i appreciate the position he is in. i don't think either side, but honestly, i personally believe the administration has been less responsible here. i don't really know what they are thinking. over the next four year, unless something very significant is done first to grow this economy at anything like a heretofore normal rate, anything like a kind of rate that we're supposed to have after a deep recession, and unless the first step or two is taken, not to change the entitlements today but to begin to moderate their demands in the out years, i -- i see no reason for any jubilation, cliff or no cliff. >> all right. we will leave it there. governor, we know that you are leaving office on january 14th to become the president of purdue university. hope to see you soon. best of luck. >> love to be back. >> see you soon, governor mitch daniels of indiana. my exclusive interview with the head of conagra and bon moshe and what he thinks about the fiscal cliff and the house gearing up to vote on speaker boehner's plan "b" action. we'l
mobile app. >>> the first class action lawsuit has been filed as a result of instagram's proposed terms of service change that would have allowed the social media company to sell users' photos without permission for advertising and the idea created a big backlash that forced the company to apologize and make about an about face. >> if instagram is not going forward with these plans, why the lawsuit? taking us through this is roy choy, managing editor at technobuffalo. that's the question i've had all along. they backtracked big-time when there was this backlash and yet we still have a class action lawsuit being brought. does it have any merit, do you think? >> i think it has absolutely no merit. i think it's a frivolous lawsuit. look for a bunch of attorneys that are looking to get their name out there in privacy law. >> do you think it's going to be dropped then? >> i definitely do think so. i think the only change that is really substantial at this moment is -- you can't take instagram to a court of law outside of a class action lawsuit. they have instituted a -- an arbitration system
, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colonies. in europe the dax down about there about 35 points, around half a percent. and overnight in japan, the nikkei, the yen falling to a 20-month low. you have the nikkei up 1.5%. the nikkei -- yen versus the dollar as shinzo abe returns to office as japan's new prime minister, promising monetary and fiscal reforms. we have the shanghai composite there up about a quarter percent. >>> all right. in today's top stories, the u.s. is five days away from going over the fiscal cliff. president obama is cutting his holiday vacation short, returning to washington tomorrow to continue talks to try to avoid that automatic tax hike and spending cut combination. that's the same day that congress returns to town. before the president left town on friday, he suggested a stopgap measure to freeze tax rates for people making less than $250,000 a year and extend unemployment benefits. reports say white house staffers have been quietly working with senate democrats to come up w
for action from their senate colleagues. so the senate and white house are leading this charge at this point. sue? >> yes, we spiked to 13,000 on the dow as we got news that obama will speak under now 28 minutes time. let's bring under john har wood. what else are you able to tell us? the stock market disappointed to learn this may be an attempt to make a political point rather than a broader announcement. >> yeah, i think the stock market was misinformed if it thought that the president was going to come out and announce a deal. still could happen because they could settle in the next few minutes. but so far we don't have a deal yet where we are looking at the contours of an agreement between vice president biden and senate minority leader mitch mcconnell is increase to 39.6 for income somewhere between 400 and $500,000 and probably 450,000. the estate tax would go up slightly from the level of 35% and current law scheduled to go up to 35 and would probably go up slightly to 40%. you are looking at one year extension of unemployment benefits pen you a honk do they defer across the board aut
.99%. that's when the move will happen and people need to be aware, investors need to be aware of what action when that happens. >> especially with the amount of money in fixed income. >> right. sale of the fixed income into the equity asset. what you could wo expect has we move towards that goal is that the market would be -- eks wit ma market would start to heat up. >> feds have been trying to get the investor to take on more risk. >> and they have been successful in getting the investor to take on more risk. there's been no change another than the continued talk of the stimulus. >> when you nad what is happening with higher tax rates it makes it a very, very muddled picture for investors. one that investors need to sort through. tax rates are going higher and if cap gains rate is still discounted relative to ordinary income, maybe 20% rather than 15%, higher but less than ordinary incan come -- >> right. >> the whole map is being arranged with this fed information towards going towards -- >> we talked about that yesterday to rob at blackrock and here is what he had to say. >> can you see d
, rise above d.c." we've heard a lot after a morning of interviews and action on capitol hill. here is what we know now. just a short while ago house speaker boehner said he's still waiting on a solid plan from president obama. >> i'm hopeful we can reach an agreement. this is a serious issue. there's a lot at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least some form of a deal will be released. we've been up 100 points on the dow industrials for the past hour. senator mark warner of virginia perhaps putting it best saying compared to the size of our economy the current proposals are relatively small and government should step up and get a deal done. >> we're joined by representative lee terry, republican from nebraska represents the district home to a guy we all know, warren b
republicans are taking concrete action to avoid the fiscal cliff. >> is a deal slipping away? >> let's be clear about -- about this matter. he wants to soak everybody. and there's only one way to do it. and that is exactly what he gets if we do nothing. >> soak everybody? even santa? the fiscal cliff, and your money, right now. live from the nasdaq market site in new york city's times square, i'm melissa lee. rally in motion. we're hitting the after hours action in rimm as the shares surge. should you keep betting on blackberry 10. plus, which economy is the best bet in 2013? jpmorgan's chief economist has his top pick. and we're debating the big deal of the day with the bull and the bear case for the nyse ice. but let's check out where the traders stand before we hit tomorrow's session. so, steve, buyer or seller today? >> i think you have to lighten up on a lot of the positions you've had some profitts in. it's really prudent to start peeling off the winners, because we're still waiting on fiscal cliff, as everyone knows. i think the market is poised to sell the news event here. i
the entire session in terms of price action, terrible. pretty heavy volumes closing two pennies off the low of the session deep. >> it was terrible. i'm trying to be measured here because i understand how -- >> you don't want to insult apple. >> that's not what we're attempt to go do. we're trying to help them. last night to a person we thought it would go lower. we didn't do that to hurt people, we did it because that's what we felt. with that said, it was not a good day. the fact that the stock closed on the lows obviously was not good, particularly good on a benign day. the fact that it couldn't really rally when the s&p staged an 8 or 9 point rally, that wasn't good either. the change was the may 18th levels and the recent levels that we saw a few weeks ago when it bounced off that 505 level, my sense is, yes, it does. i know there will be analysts that will come out and defend. they should. fundamentally it makes a lot of sense. technically right now the stock looks to be a bit broken. it's imperative in my world that it holds now 520. >> there are going to be a lot of people pointing
that you face at paychecks? >> all the attention on the fiscal cliff and no action is really producing, i think, a dampered view from small business, and they're just kind of waiting on the sidelines right now. what you're seeing in our clients, they're not opening up their second location, they're not hiring more employees. it's fairly quiet. >> yeah, there it is. that's fiscal cliff. he had been building a head of steam. and suddenly he's talking about business building tailing off. washington, washington -- but do you ever hear them -- they talk about the job creators. you have to protect the job creators. they spoke to the president, i thought the president was starting to understand this. but this is about etiology. this isn't about the war between the states that are gop, and the states that are democrat. etiology does not get solved in a back room. it doesn't. it gets solved by the actual citizens saying, i can't pay for dinner. i can't pay for dinner. i've got to stay, and i can't go to brinker, i've got to go get mccormack spice and hamburger helper. that's when it changes. >> th
cliff. the leaders i talked to today know their actions will take us over a cliff. i understand there is now perception among the media. the no tax increase republican ares regard the stance as a birthright. a guy that is so anti-spend that he seemed to care more on these issues and more about the accountability for the disaster relief money. i can't believe that. but a lot of guys down there will do anything to prove a point. but i can tell you there are enough garrets to force us over the cliff. given that the garrets are over there. got a question either people don't know about the cliff or they believe that the deal will be done. and they that they have fulfilled the nor quist pledge. where were the republicans when they cut taxes from the chinese two, why didn't republicans press for spending cuts when the president extended the tax cuts? and why doesn't the president offer spending cuts to medicare and defense and social security? how about weapons programs that don't fit in the terrorism world. how about foreign aid and maybe trying to be helpful, i'm sure some of today's
think -- >> what more actions? they have a t program waiting to go. what more actions are you talking about? >> the key policy rate for the ecb is likely indeed in the first quarter. they can take dpopt deposit rate negative. by the middle of next year, they'll be doing outright qe. i've been talking about this for ages. they haven't done it so maybe they won't do it. but i'm assuming that the outlook for inflation for the eurozone is -- >> how are they going to get around -- look, i know the bundes bank has a fear of hyper inflation. i just don't -- are they going to get around all the -- because even if they do it on the inflation mandate, are they going to get around the objections about outright money printing? germans would see it as that. >> they would see it as outright money printing. we have done qe. it's not an issue on the legality of it as long as you justify it in the inflation mandate at the zero policy bound. but the question is, you know, how low is inflation in the eurozone going to go? you have core inflation in the eurozone below 1.5%. if you strip away indirect tax
at the scenes, what the offender's actions were there at the school. for example, during the period of time that he was in the classrooms and shooting, what was his behavior like? was he frantic or frenzied, cool and calm, controlled and collected. that will tell us more about this personality. how do we get that kind of information? >> well, you have to go back and tra trace what this individual was doing. when you look at how he was dressed, this has been going on a long time. there has to be a lot of interviewing that is going to take place. what he was doing to figure out what his intension was. but why did he go through with it. they talk about as burger and so forth. what is your take? >> well, that is a greaeat question and i'm glad that you asked that. here is the test, did this visual know the nature and the quality of his behavior and did he know whether or not it was wrong. and my experience with these cases and my knowledge of what has been made public is this is an individual who engaged in long-term planning and who w carried out that plan in a thoughtful way. he knew what he
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